Total funding: $110 million, according to Crunchbase.
What it does: Clubhouse is an audio-only social app where users meet up in chat rooms to listen to talks, hear comedy stand-up routines, and partake in a slew of other audio-focused activities.
Why VCs like it: Clubhouse launched about a year ago, joining a crop of fast-growing startups that have boomed during the pandemic. Its app offers another way for at-home consumers to socialize in groups while in-person gatherings are on hold.
Clubhouse remains invite-only, but the company already has millions of users. It's raised over $100 million from investors like Andreeson Horowitz.
The company has faced some growing pains as it wrestles with content-moderation issues that arise from live audio content. Its app was recently banned in China after it became a hub for political dissent. It also faces new competition as big tech platforms like Twitter and Facebook are working on their own Clubhouse-copycat products.